Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australian base metals miner, BHP has set goals to cut greenhouse gas (GHG) emissions by at least 30pc by 2030, as compared to this year, by using clean power. It will also cut its carbon footprint in steel trading through schemes that involve its consumers and shippers.


The miner will work with the steel industry, a large contributor to global carbon releases, to create methods to cut emission strength by 30pc for steel mills, iron ore and coal customers. The company will also apply targets in the maritime industry by using five chartered natural gas-powered Newcastlemax iron ore carriers, which will begin shipping to China in 2022, cutting emissions by 30pc. The Escondida and Spence copper mines in Chile will also use 100pc renewable energy by around 2025. 


According to media reports, BHP’s operational emissions in FY2020 were equivalent to 14.2mn mt of carbon dioxide, about half of Rio Tinto’s at 26.4mn mt. However, the miner’s scope 3 emissions contain large amounts of carbon dioxide, measuring in at 566.8mn mt, comparatively more than the rest of Australia in 2019 at 532.5mn mt.


BHP noted that iron ore and metallurgical coal demand is being driven by an uptick in global steel consumption while increased electric vehicles on the road are driving demand for it’s copper and nickel resources.

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